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. and that means that we still have a big hole to fill. gwen: who is in that big hole? and why is it that month after month, and after month, it never seems to get more shallow? >> let's go back a little ways. a few months ago, the economy seemed to be having a nice head of steam. we were seeing very strong job growth numbers of 200,000 per month. and suddenly everything seemed to hit a wall. we've had a run of bad luck. we had very bad snowstorms earlier this year, a series of natural disasters here. the big hit came from gasoline prices that shot up to around $4 for gasoline because of the libyan rebellion. and finally the japanese earthquake and tsunami turned out to be a much bigger negative for us than we may have appreciated. because it cut off the flow of vital parts. put all those things together and it cost a lot of momentum. may very poor job numbers and in june, very poor job numbers. it was kind of surprising because in fact over the last few weeks, we had a wave of optimism because some of those tempering negatives seemed to be going away. as gasoline prices dropped and japan got b
these months of doing nothing, sided with the $4 trillion a solution, the big solution, which includes tax reform and dealing with entitlements. maybe i'm whistling past the graveyard, but for the first time i feel a tiny bit of hope they can get this done. >> did we hear a suggestion from speaker boehner earlier this week that possibly, they might consider an increase in tax revenues? >> if you were to means test social security, for example, not a crazy idea, but it is a tax increase -- >> it is not a tax increase, it is a reduction of benefits. >> obama, as far as i can tell, has basically, and so far, thrown in the towel. he says he wants to have some loopholes close, but that unsystemic revenue increase does not get you very far. the question that is where you got? -- where do you cut? you have to cut everywhere, especially in science, especially defense, but you also have tax increases -- especially entitlements, especially defense, but you also have to have tax increases. >> that is not true. obama, as i understand it, has presented a range of options brought the little group decide
in congress still saying that a first-ever default on our nation's financial obligations would be no big deal? gwen: wall street, bond-rating agencies and the federal reserve sound the alarm. >> it would create a very severe financial shock that would have effects not on on the u.s. economy but on the global economy. gwen: while some republicans say it's a phony problem. >> this is misnomer that i believe the president and the secretary have been trying to pass off on the american people. gwen: who's right? who's wrong? where are the honest brokers? and what happens next? covering the week, gloria borger of cnn, john dickerson of "slate" magazine and cbs news, michael duffy of "time" magazine, and david wessel of "the wall street journal." >> award-winning reporting and analysis. live from our nation's capitol, this is "washington week with gwen ifill," produced in association with national journal. corporate funding for "washington week" is provided by -- >> we know why we're here. >> to give our war fighters every advantage. >> to deliver technologies that anticipate the future today. >> t
, it actually has these built in very significant disincentives towards making big deals, towards working together. and we are now seeing the fruits of that evolution in the house in particular. let's talk about the house in particular. john boehner has been a very interesting figure in all of this. at one point he was walking in the back door of the white house and trying to cut a deal with the president. obviously, shamed out of that. so now he came up with his own deal and spent a lot of time last night bringing people in through his front door, recalcitrant republicans, to get them on board. is he wounded by what happened this week? is he strengthened? >> i think what happened this week is that we have seen how little leverage and how weak john boehner really is. you know, he has a leadership style that he has said, you know, after the top-down leadership style we saw with nancy pelosi, that he wanted to be a consensus leader, that things would come from the bottom up and he won his majority in the house because a lot of these freshmen ran specifically against the establishment and ag
be a big deal if the u.s. government couldn't pay its debts but i don't think that's where we're going to end up. we're not greece. greece is a small economy, greece is way, way deeper in hot than we are. people have lots of options where to put money and greece is low on their list because they think there's going to be a default. where the greece metaphor comes in is that greece and portugal and spain and ireland have raised questions about whether governments keep their promises. and to the extent that the congress and the president can agree on a long run fiscal plan, it raises the question of, are we ever going to get our act together so that we don't become greece? >> and is the market yet or do you suspect it will either price this in or panic? >> it's been amazing how calm the markets have been and i think there are two reasons for that. one is, they kind of assume that eventually washington will do what it has to do. and secondly, greece and europe have been such a preoccupation that nobody wants to have money there, so they've moved money to the u.s. as europe has done its ev
. senior citizens will in fact take some hits. education will take big hits with the pell grants. to achieve the so-called cuts that they are talking about would mean that a lot of people are going to be severely, severely hurt. >> but we cannot sustain this level of debt forever. >> we cannot, but here is what is wrong -- we have to get control of the deficit, but we do not want to do anything on the revenue side. all of the change, all of the pain is coming from the cuts. you are still leaving those tax cuts to the wealthy untouched. still leaving the subsidies for the oil companies untouched. everything to the poor and middle-class folks -- you bear the brunt of it. >> mitt romney this week -- my view is we should have a president who is willing to cut, a cap, and balance the budget. then he wants to stay out of this. he is just interested in jobs. in the grand bargain, there were revenue increases. closing loopholes that no one wants to defend except for grover norquist, who is having an incredible amount of power in this debate. there is a counter intuitive thing here. you a
tsongas had cancer. i think there is a big difference between cancer and migraines. if we are going to hold up the standard of if you have a headache that knocks you out for an hour or two or whatever it that you cannot be president, i think fdr, kennedy who had addison's disease, and eisenhower, who had a really bad heart, would never be president of the united states, and i am not sure that as a position any of us would want to take. i think her answer was good. based on the evidence -- is their behavioral evidence of this woman not being able to handle yourself? >> just being cautionary -- >> well, cautionary is fine. >> i don't know the capitol hill physician, but i don't think is fair to imply that this is a less qualified individual. >> i am not saying that. >> what about rick perry? >> looks more and more like he is going to come into the race. he is showing in the polls as well. mike huckabee, the conservative a finalist in 2008 against john mccain, has already taken a shot at him, pointing out that if he is going to be the champion of all traditional values and high morals,
, the nasdaq rose 24 and the s&p 500 added a point. the blue chips were dragged lower by a big earnings miss from caterpillar, while the tech heavy nasdaq was lifted by strong earnings from chip maker advanced micro devices monday, we go beyond the scoreboard. our look at the business of sports gets the latest on the n.f.l. lockout. for more financial news, tune in to "nightly business report" weeknights on this public television station.
Search Results 0 to 24 of about 25 (some duplicates have been removed)

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